 Log In Already have an Rljobs.com account? Welcome back. Register Register here! Post your resume and have jobs e-mailed to you.
Job SearchSearch for local jobs in the Rhode Island area by keyword, category and/or location.
User GuideReference material with everything you need to know about this site.
|
|
2881
Archive for March, 2011
Saturday, March 26th, 2011
Bancorp’s recent operating results reveal that the company hired for mortgage jobs in Rhode Island.
During the year, the Company added $6.9 million to its allowance for loan and lease losses. The provision exceeded net charge-offs by $2.1 million. The increased provision served to strengthen the ratio of the allowance to loans and leases to 1.61 percent at December 31, 2010, up from 1.49 percent at December 31, 2009. Nonperforming loans and leases at December 31, 2010 totaled $16.5 million, down from $18.3 million a year ago. As a percentage of total loans and leases, nonperforming loans and leases ended 2010 at 1.43%, compared to 1.65% at the end of the year in 2009. The Company believes its asset quality indicators continue to compare favorably to its peer group, reflecting a culture of prudence and diligence in its risk management practices and business approach.
Historically, the Bank has offered fixed- and variable-rate mortgages through its branch network as an accommodation to its customers. In 2010, the Bank began a modest first mortgage origination effort, hiring three originators and intending to sell or portfolio these loans as the Bank’s balance sheet and fee income needs dictate. The Bank originated $26.3 million of mortgage loans for its portfolio during 2010, compared to $3.5 million in 2009. Fees from mortgage loans originated for third parties decreased to $62,000 from $83,000 in the prior year. Overall, the Bank anticipates that its residential mortgage loan portfolio will decline long-term as it continues to focus its resources on commercial and consumer lending.
Consumer and Other Loans — The Bank originates a variety of term loans and lines of credit for consumers. At December 31, 2010, the consumer loan portfolio totaled $210.3 million, or 18.2% of the total loan and lease portfolio. Over the past five years, consumer loans have increased by $3.9 million, or 1.9%. Compared to the prior year-end, consumer loans have increased by $4.2 million, or 2.0%.
As economic conditions began to improve in 2010, nonperforming assets and net charge-offs declined compared to the prior year. At December 31, 2010, the Company had nonperforming assets of $17.6 million, or 1.10% of total assets, compared to $20.0 million, or 1.26% of total assets, at December 31, 2009.
The Bank made additions to the allowance for loan and lease losses of $6.9 million and $9.9 million during 2010 and 2009 and experienced net charge-offs of $4.7 million and $8.0 million, respectively. At December 31, 2010, the allowance for loan and lease losses was $18.7 million and represented 1.61% of total loans and leases outstanding. This compares to an allowance for loan and lease losses of $16.5 million, representing 1.49% of total loans and leases outstanding at December 31, 2009. If current economic conditions worsen, management believes that the level of nonperforming assets will increase, as will its level of charged-off loans and leases.
Posted in Finance | No Comments »
Saturday, March 19th, 2011
Flagstaff has announced it is recruiting for executive jobs in Rhode Island.
Flagstar Bancorp, Inc. (NYSE: FBC), the holding company for Flagstar Bank, today announced the addition of several new key executives and plans to expand the Bank’s commercial lending business.
Joining Flagstar’s leadership team will be Steven J. Issa, who was appointed to the position of Executive Vice President & Managing Director, Commercial Banking. Mr. Issa will oversee the Commercial Banking division and will also serve as the Market President for the New England region, responsible for building and growing Flagstar’s presence and market awareness in that region.
Also joining Flagstar is Michael J. Tierney, who was appointed to the position of Executive Vice President & Managing Director, Retail Banking. Mr. Tierney will oversee the Retail Banking division and will also serve as the Market President for the Midwest region, responsible for leading and cultivating Flagstar’s presence in its existing footprint.
Flagstar also plans to add around 20 new lenders and managers in each of the Midwest and the New England markets by the end of the year.
“The announcement today marks another big milestone in transforming Flagstar to a full-service super community bank,” said Joseph P. Campanelli, Chairman and Chief Executive Officer. ”I’m excited that we continue to attract the best talent in banking to the Flagstar executive team.”
Mr. Campanelli continued, “Mike Tierney is a well-seasoned commercial banker with an unparalleled knowledge of the Michigan market, as well as the entire Midwest. Steve Issa has a great understanding of the needs of small business and how to grow a commercial banking and specialty lending portfolio, and brings a network of long-established relationships that will be invaluable as Flagstar pursues growth in the New England region.”
Mr. Issa brings to Flagstar over 33 years of experience in commercial banking in the Northeast, previously serving as the Executive Vice President and Managing Director of the New England Middle Market and Specialty Group for Sovereign Bank. In his role as the Rhode Island market Chief Executive Officer at Sovereign, Mr. Issa oversaw 32 retail community branches, with deposits of $2 billion. Prior to Sovereign, he served in a variety of executive positions at Shawmut Bank and Old Stone Bank. Mr. Issa is an active member of his community, serving on the Boards of the Greater Providence Chamber of Commerce, Delta Dental of Rhode Island, Miriam Hospital, and the Governor’s Commodore Advisory Group. A native of Rhode Island, he holds an undergraduate degree and an M.B.A. from Bryant University.
Mr. Tierney is an established commercial banker in Michigan, and throughout the Midwest, bringing with him over 33 years of experience in retail, consumer and commercial banking. Most recently, he served as President and Chief Executive Officer of the Bluewater Bank Group, an investment group formed to purchase Michigan banks. Prior to that, Mr. Tierney was the President and Chief Executive Officer for Peoples State Bank, and was also the Senior Vice President and Managing Director for Midwest Business Banking at Chase. Mr. Tierney began his distinguished career at Comerica Bank, where he served for 28-years in various senior leadership roles, most notably as Senior Vice President, Personal Financial Services, where he oversaw 256 Michigan branches and was responsible for over $13.5 billion in small business and retail deposits. Mr. Tierney holds an M.B.A from the University of Detroit and a B.S. in Finance from Central Michigan University. He is an involved member of the Michigan community and serves on a number of local civic organizations. Mr. Tierney has previously served on the Board of the Michigan Bankers Association, the Board of the Consumer Bankers Association, and is a former chair of the Central Michigan University Development Board.
Also joining the team will be John F. Chipman, who will report to Mr. Issa and will oversee Flagstar’s Specialty Lending division. Over the past 20 years, Mr. Chipman has successfully built several multi-billion dollar specialty lending businesses. Most recently, Mr. Chipman served as President and Chief Executive Officer of MassMutual Asset Finance. Prior to that, he founded Winmark Equipment Finance, an independent equipment finance company that grew to more than $2.2 billion in earning assets. Mr. Chipman has a degree in economics from Providence College, and holds a Master of Science in Finance from Northeastern University’s Graduate School of Business Administration.
366e
Posted in Uncategorized, Jobs | No Comments »
Friday, March 11th, 2011
A new survey proclaims that Rhode Island management jobs are on the rise.
Confidence among U.S. employers is spreading geographically, according to the seasonally adjusted results of the latest Manpower Employment Outlook Survey, conducted quarterly by Manpower Inc.
According to the seasonally adjusted* survey results, the Outlook* for Quarter 2 2011 is +8%, up from +6% during the same period last year and consistent with the +8% Outlook during Quarter 1 2011.
Survey highlights include:
* Positive Outlook in Every State: Employers in all 50 states report positive hiring intentions and 33 out of 50 states anticipate considerable increases. Puerto Rico and Washington D.C.employers also report positive hiring intentions.
* All Industries Looking to Hire: Employers in the 13 industry sectors surveyed each report a positive Outlook, with Mining and Leisure & Hospitality employers the most optimistic. Employers in 10 of the 13 industry sectors expect hiring to increase from three months ago.
* Six Straight Quarters of Employment Growth: Employers have reported a positive overall hiring Outlook since Quarter 1 2010, according to seasonally adjusted data.
* Fewer Employers Plan to Decrease Headcounts: Six percent of employers plan to reduce employee levels in Quarter 2 2011, down from recessionary highs of 14 percent in 2009.
“We should see the same measured hiring pace in the U.S. as we did in the first quarter; however, unadjusted industry sector data reveals some positive signs,” said Jeffrey A. Joerres, Manpower Inc. Chairman and CEO. “First, employers in 10 of the 13 industry sectors surveyed expect hiring to improve from three months ago. Second, there is a notable uptick in the Manufacturing-Durables sector where nearly one in five employers expect to increase payrolls.”
Of the more than 18,000 employers surveyed, 16 percent anticipate an increase in staff levels in their Quarter 2 2011 hiring plans, while 6 percent expect a decrease in payrolls, resulting in a Net Employment Outlook of +10%. When seasonally adjusted, the Net Employment Outlook becomes +8%. Seventy-four percent of employers expect no change in their hiring plans. The final 4 percent of employers indicate they are undecided about their hiring intentions.
“Nearly all of the of the key data points in our survey show that employers are positive, but hiring plans are still reserved due to their continued ability to manage the slowly increasing demand with the existing workforce,” said Jonas Prising, Manpower president of the Americas. “In the U.S., we are holding on to hard-won job gains and waiting for the time when the growth in demand for goods and services will require more substantial workforce additions.”
Employers in each of the 13 industry sectors surveyed have a positive Outlook for Quarter 2 2011: Leisure & Hospitality (+21%), Mining (+21%), Professional & Business Services (+15%), Durable Goods Manufacturing (+14%), Wholesale & Retail Trade (+12%), Nondurable Goods Manufacturing (+11%), Financial Activities (+9%), Information (+9), Transportation & Utilities (+8%), Other Services (+7%), Construction (+6%), Education & Health Services (+6%) and Government (+1%). Employers in 10 industry sectors expect employment prospects to increase quarter-over-quarter, three expect staff levels to remain stable and none of the surveyed industries look for the hiring pace to decline. Among the 10 industries expecting an uptick in hiring confidence, employers in both the Mining sector and Construction sector anticipate the largest quarter-over-quarter Net Employment Outlook increase, with both gaining 15 percentage points.
Employers in all four U.S. geographic regions surveyed report a seasonally adjusted Outlook of +8%. The hiring Outlook in the West is the strongest for the region since Quarter 4 2008. Compared to one year ago, a slight increase in employment prospects is expected in the Midwest, South and West, while the Northeast is steady. Quarter over quarter, employers in the Northeast, South and West report relatively stable hiring conditions, while employers in the Midwest expect a slight dip in employment plans.
Posted in Jobs | No Comments »
Saturday, March 5th, 2011
Flagstar has announced it has hired for key executive jobs in Rhode Island and other parts of New England.
Flagstar Bancorp, Inc., the holding company for Flagstar Bank, today announced the addition of several new key executives and plans to expand the Bank’s commercial lending business.
Joining Flagstar’s leadership team will be Steven J. Issa, who was appointed to the position of Executive Vice President & Managing Director, Commercial Banking. Mr. Issa will oversee the Commercial Banking division and will also serve as the Market President for the New England region, responsible for building and growing Flagstar’s presence and market awareness in that region.
Also joining Flagstar is Michael J. Tierney, who was appointed to the position of Executive Vice President & Managing Director, Retail Banking. Mr. Tierney will oversee the Retail Banking division and will also serve as the Market President for the Midwest region, responsible for leading and cultivating Flagstar’s presence in its existing footprint.
Flagstar also plans to add around 20 new lenders and managers in each of the Midwest and the New England markets by the end of the year.
“The announcement today marks another big milestone in transforming Flagstar to a full-service super community bank,” said Joseph P. Campanelli, Chairman and Chief Executive Officer. ”I’m excited that we continue to attract the best talent in banking to the Flagstar executive team.”
Mr. Campanelli continued, “Mike Tierney is a well-seasoned commercial banker with an unparalleled knowledge of the Michigan market, as well as the entire Midwest. Steve Issa has a great understanding of the needs of small business and how to grow a commercial banking and specialty lending portfolio, and brings a network of long-established relationships that will be invaluable as Flagstar pursues growth in the New England region.”
Mr. Issa brings to Flagstar over 33 years of experience in commercial banking in the Northeast, previously serving as the Executive Vice President and Managing Director of the New England Middle Market and Specialty Group for Sovereign Bank. In his role as the Rhode Island market Chief Executive Officer at Sovereign, Mr. Issa oversaw 32 retail community branches, with deposits of $2 billion. Prior to Sovereign, he served in a variety of executive positions at Shawmut Bank and Old Stone Bank. Mr. Issa is an active member of his community, serving on the Boards of the Greater Providence Chamber of Commerce, Delta Dental of Rhode Island, Miriam Hospital, and the Governor’s Commodore Advisory Group. A native of Rhode Island, he holds an undergraduate degree and an M.B.A. from Bryant University.
Mr. Tierney is an established commercial banker in Michigan, and throughout the Midwest, bringing with him over 33 years of experience in retail, consumer and commercial banking. Most recently, he served as President and Chief Executive Officer of the Bluewater Bank Group, an investment group formed to purchase Michigan banks. Prior to that, Mr. Tierney was the President and Chief Executive Officer for Peoples State Bank, and was also the Senior Vice President and Managing Director for Midwest Business Banking at Chase. Mr. Tierney began his distinguished career at Comerica Bank, where he served for 28-years in various senior leadership roles, most notably as Senior Vice President, Personal Financial Services, where he oversaw 256 Michigan branches and was responsible for over $13.5 billion in small business and retail deposits. Mr. Tierney holds an M.B.A from the University of Detroit and a B.S. in Finance from Central Michigan University. He is an involved member of the Michigan community and serves on a number of local civic organizations. Mr. Tierney has previously served on the Board of the Michigan Bankers Association, the Board of the Consumer Bankers Association, and is a former chair of the Central Michigan University Development Board.
Also joining the team will be John F. Chipman, who will report to Mr. Issa and will oversee Flagstar’s Specialty Lending division. Over the past 20 years, Mr. Chipman has successfully built several multi-billion dollar specialty lending businesses. Most recently, Mr. Chipman served as President and Chief Executive Officer of MassMutual Asset Finance. Prior to that, he founded Winmark Equipment Finance, an independent equipment finance company that grew to more than $2.2 billion in earning assets. Mr. Chipman has a degree in economics from Providence College, and holds a Master of Science in Finance from Northeastern University’s Graduate School of Business Administration.
“Steve and John have built long-term relationships in the New England market, and really understand how to grow multiple lines of business,” Mr. Campanelli said. ”The region has a premier customer demographic for building on our super-community bank concept. We look forward to expanding the Flagstar brand, as Steve and John build a presence and market awareness in New England, similar to the way we have grown our retail banking franchise in Michigan, Indiana and Georgia, and our national mortgage banking operations all over the country.”
Mr. Campanelli went on to say, “With the products and infrastructure already in place, we see great opportunity to leverage our best-in-class retail banking and top-tier mortgage banking business. The commercial and specialty lending businesses will complement our existing operations, and create a diversified mix of sustainable revenue streams.”
Flagstar also announced the hiring of Michael Maher as Executive Vice President & Chief Accounting Officer, and Daniel Landers as Executive Vice President & Chief Credit Officer. Mr. Maher brings 30 years of experience in community and mortgage banking and public accounting. Mr. Landers brings 30 years of operational, credit and management experience.
Flagstar Bancorp, with $13.6 billion in total assets, is the largest publicly held savings bank headquartered in the Midwest. At December 31, 2010, Flagstar operated 162 banking centers in Michigan, Indiana and Georgia and 27 home loan centers in 13 states. Flagstar Bank originates loans nationwide and is one of the leading originators of residential mortgage loans.
2871
Posted in Jobs | No Comments »
|
|
|
